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re: LSU & Les Miles settle remainder of his buyout
Posted on 11/15/18 at 3:28 pm to SPEEDY
Posted on 11/15/18 at 3:28 pm to SPEEDY
quote:
I get that, but Kansas will pay him more than the $1.5 million a year he was getting from his buyout. That would mean that LSU would have been off the hook for the entire amount remaining as soon as he was hired
The other thing is that this is guaranteed. LSU doesn’t know with 100% certainty how the Kansas position will turn out. This way it is 100% certain to be over and done with and we know the cost up front.
1
Posted on 11/15/18 at 3:29 pm to SouthernInsanity
Great hire for KU and great for the Big 12. Let's go Les
Posted on 11/15/18 at 3:30 pm to LuckyTiger
quote:
Les won’t sniff a winning season
Posted on 11/15/18 at 3:31 pm to BR Tiger
quote:
The other thing is that this is guaranteed. LSU doesn’t know with 100% certainty how the Kansas position will turn out. This way it is 100% certain to be over and done with and we know the cost up front.
What is another month? We know he is in play for the job and Kansas will make the hire in a couple of weeks. If they hire someone other than Les, then do the settlement
Posted on 11/15/18 at 3:35 pm to rt3
For those people that may be confused about what’s going on here (because no sane person takes $1.5 mil over $6.5mil)...
What this means:
-Les Miles is ready to take another job, most likely Kansas, and likely has an offer on the table already
-he will likely get a Kansas contract in the $3-$4mil per year ange
-had he not settled with LSU, and took the Kansas job, his entire remaining LSU buyout would cease once his paychecks from Kansas start... he’d lose $6.5 mil from LSU because of his new Kansas contract
-by settling with LSU, he basically gets a “free” $1.5 mil before taking the Kansas job
-it’s good for both parties, Miles and LSU... Miles gets some free money, LSU clearly gets to move on and remove the liability off the balance sheet, LSU is protected and “done” with Miles and the buyout in the event his new job falls through
-an argument could be made that if Miles is definitely taking the Kansas job that LSU just wasted $1.5 mil that it didn’t have to... of course LSU has no way of knowing for certain if Les is definitely going to take that job, so it’s a good $1.5 mil insurance policy
What this means:
-Les Miles is ready to take another job, most likely Kansas, and likely has an offer on the table already
-he will likely get a Kansas contract in the $3-$4mil per year ange
-had he not settled with LSU, and took the Kansas job, his entire remaining LSU buyout would cease once his paychecks from Kansas start... he’d lose $6.5 mil from LSU because of his new Kansas contract
-by settling with LSU, he basically gets a “free” $1.5 mil before taking the Kansas job
-it’s good for both parties, Miles and LSU... Miles gets some free money, LSU clearly gets to move on and remove the liability off the balance sheet, LSU is protected and “done” with Miles and the buyout in the event his new job falls through
-an argument could be made that if Miles is definitely taking the Kansas job that LSU just wasted $1.5 mil that it didn’t have to... of course LSU has no way of knowing for certain if Les is definitely going to take that job, so it’s a good $1.5 mil insurance policy
This post was edited on 11/15/18 at 3:42 pm
Posted on 11/15/18 at 3:36 pm to JPLSU1981
Les was probably like, I maybor May not take this job.
What’s it worth to you?
What’s it worth to you?
Posted on 11/15/18 at 3:38 pm to Areddishfish
Double not so fast my friend. He was 28-21 in Stillwater after taking over for a coach that posted three straight losing seasons, not an average .500 coach.
Why do some of our fans still shite on the man? He won a championship for us, and if not for Saban probably wins at least 1 more. Also, is a great man off the field. It was time to move on from him but he was no average coach.
Why do some of our fans still shite on the man? He won a championship for us, and if not for Saban probably wins at least 1 more. Also, is a great man off the field. It was time to move on from him but he was no average coach.
Posted on 11/15/18 at 3:45 pm to LSU Patrick
Same here. KU tickets are dirt cheap, I won't mind going to some games here in Lawerence to root for Leslie and the Jayhawks.
Posted on 11/15/18 at 3:45 pm to LSU Patrick
quote:
Looks like I'll be attending some KU games next season.
does this confirm you were always a MILES first over LSU fan like so many here laid out and accused you of pat? Hmmnnnnnnnn
i think you just gave those accusers lots of ammo.
This post was edited on 11/15/18 at 4:09 pm
Posted on 11/15/18 at 3:46 pm to jlovel7
quote:bet it more Miles than Alleva
Wait Alleva worked a deal that was good for LSU
Posted on 11/15/18 at 4:06 pm to rt3
When I opened the Rant a few minutes ago, I figured these threads meant he’d been hired by Kansas.
I know it’s a lump sum, but no way I leave 5.5M on the table.
I know it’s a lump sum, but no way I leave 5.5M on the table.
Posted on 11/15/18 at 4:23 pm to Fat Bastard
quote:
does this confirm you were always a MILES first over LSU fan
Why the frick would any LSU fan not also be a fan of Les Miles??
O, on the other hand, gave true LSU over a decade of reasons to dislike him.
Posted on 11/15/18 at 4:25 pm to LuckyTiger
quote:
He will fail spectacularly at Kansas if he takes the job.
I'll take that bet! I'll give him one year grace period. He will have winning seasons and bowl games every year after that.
Posted on 11/15/18 at 4:28 pm to rt3
Dope. Now we can use that money to pay O's buyout :D
Posted on 11/15/18 at 4:50 pm to SPEEDY
quote:
What is another month? We know he is in play for the job and Kansas will make the hire in a couple of weeks. If they hire someone other than Les, then do the settlement
Yes they hire someone else or he doesn’t take the job, then LSU has no leverage to “encourage “the buy out/settlement.
Posted on 11/15/18 at 4:53 pm to rt3
This is evidence that LSU is about to be plagued with a huge scandel and Miles took the money and GTFO
Posted on 11/15/18 at 5:00 pm to rt3
Ok now whoever agreed to pay a fricking football coach out that long should never ever be allowed in those meetings every again.
Posted on 11/15/18 at 5:06 pm to JPLSU1981
quote:
had he not settled with LSU, and took the Kansas job, his entire remaining LSU buyout would cease once his paychecks from Kansas start... he’d lose $6.5 mil from LSU because of his new Kansas contract
Is this true? Would it not just be reduced on a dollar for dollar basis?
Posted on 11/15/18 at 5:11 pm to Mo Jeaux
quote:
Is this true? Would it not just be reduced on a dollar for dollar basis?
I believe you're right. Further, if Miles is fired in two years, LSU is still on the hook through 2023.
Posted on 11/15/18 at 5:13 pm to MountainTiger
quote:
I believe you're right. Further, if Miles is fired in two years, LSU is still on the hook through 2023.
Yeah, I just checked his contract. The buyout would be reduced and extinguished to the extent of any additional compensation that he received.
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